2021 Q2 Form 10-Q Financial Statement

#000159703321000098 Filed on August 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $419.7M $83.04M
YoY Change 405.36% -91.7%
Cost Of Revenue $179.8M $61.23M
YoY Change 193.7% -91.98%
Gross Profit $239.8M $21.82M
YoY Change 999.36% -90.78%
Gross Profit Margin 57.15% 26.27%
Selling, General & Admin $159.0M $123.8M
YoY Change 28.45% -19.99%
% of Gross Profit 66.29% 567.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $67.45M $68.03M
YoY Change -0.85% -14.12%
% of Gross Profit 28.12% 311.81%
Operating Expenses $159.0M $123.8M
YoY Change 28.45% -19.99%
Operating Profit -$180.4M -$384.1M
YoY Change -53.04% -568.88%
Interest Expense $64.27M $55.93M
YoY Change 14.91% 41.21%
% of Operating Profit
Other Income/Expense, Net -$66.84M -$62.53M
YoY Change 6.9% 50.04%
Pretax Income -$247.2M -$446.6M
YoY Change -44.65% -1209.86%
Income Tax -$1.897M -$4.629M
% Of Pretax Income
Net Earnings -$245.9M -$442.6M
YoY Change -44.45% -1689.81%
Net Earnings / Revenue -58.58% -532.93%
Basic Earnings Per Share -$0.79 -$1.60
Diluted Earnings Per Share -$0.79 -$1.60
COMMON SHARES
Basic Shares Outstanding 319.8M shares 275.7M shares
Diluted Shares Outstanding 319.8M shares 275.7M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.122B $1.306B
YoY Change -14.1% 229.21%
Cash & Equivalents $1.100B $1.306B
Short-Term Investments
Other Short-Term Assets $63.87M $42.60M
YoY Change 49.92% -71.84%
Inventory
Prepaid Expenses
Receivables $330.4M $291.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.599B $1.736B
YoY Change -7.9% 50.66%
LONG-TERM ASSETS
Property, Plant & Equipment $405.7M $540.2M
YoY Change -24.9% -23.76%
Goodwill $2.626B $2.632B
YoY Change -0.24% 3.14%
Intangibles
YoY Change
Long-Term Investments $23.06M $23.90M
YoY Change -3.5% -11.81%
Other Assets $572.2M $628.0M
YoY Change -8.9% -12.56%
Total Long-Term Assets $4.009B $4.393B
YoY Change -8.73% -4.87%
TOTAL ASSETS
Total Short-Term Assets $1.599B $1.736B
Total Long-Term Assets $4.009B $4.393B
Total Assets $5.608B $6.129B
YoY Change -8.5% 6.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $85.91M $134.1M
YoY Change -35.95% -23.35%
Accrued Expenses $435.8M $424.0M
YoY Change 2.79% -35.31%
Deferred Revenue $103.8M $105.3M
YoY Change -1.45% -15.48%
Short-Term Debt $0.00 $77.88M
YoY Change -100.0% -5.79%
Long-Term Debt Due $26.03M $77.90M
YoY Change -66.58% -12.96%
Total Short-Term Liabilities $659.8M $764.4M
YoY Change -13.69% -31.77%
LONG-TERM LIABILITIES
Long-Term Debt $4.702B $4.608B
YoY Change 2.03% 39.7%
Other Long-Term Liabilities $342.3M $352.3M
YoY Change -2.84% 10.96%
Total Long-Term Liabilities $5.044B $4.961B
YoY Change 1.69% 37.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $659.8M $764.4M
Total Long-Term Liabilities $5.044B $4.961B
Total Liabilities $5.704B $5.725B
YoY Change -0.37% 20.87%
SHAREHOLDERS EQUITY
Retained Earnings -$2.617B -$1.466B
YoY Change 78.46% 92.76%
Common Stock $3.452M $2.971M
YoY Change 16.19% 0.99%
Preferred Stock
YoY Change
Treasury Stock (at cost) $497.2M $474.1M
YoY Change 4.88% 1.47%
Treasury Stock Shares 22.85M shares 21.26M shares
Shareholders Equity -$167.8M $316.7M
YoY Change
Total Liabilities & Shareholders Equity $5.608B $6.129B
YoY Change -8.5% 6.22%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$245.9M -$442.6M
YoY Change -44.45% -1689.81%
Depreciation, Depletion And Amortization $67.45M $68.03M
YoY Change -0.85% -14.12%
Cash From Operating Activities -$141.9M -$436.2M
YoY Change -67.46% -517.42%
INVESTING ACTIVITIES
Capital Expenditures $10.81M $10.90M
YoY Change -0.84% -137.19%
Acquisitions
YoY Change
Other Investing Activities $10.07M $0.00
YoY Change -100.0%
Cash From Investing Activities -$766.0K -$10.80M
YoY Change -92.91% -71.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.42M 1.070B
YoY Change -101.91% -931.47%
NET CHANGE
Cash From Operating Activities -141.9M -436.2M
Cash From Investing Activities -766.0K -10.80M
Cash From Financing Activities -20.42M 1.070B
Net Change In Cash -163.1M 623.1M
YoY Change -126.18% -1096.96%
FREE CASH FLOW
Cash From Operating Activities -$141.9M -$436.2M
Capital Expenditures $10.81M $10.90M
Free Cash Flow -$152.7M -$447.1M
YoY Change -65.84% -434.15%

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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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CY2021Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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CY2021Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
488000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
561000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
969000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
926000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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CY2021Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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1012000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
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1815000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
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CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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us-gaap Net Cash Provided By Used In Discontinued Operations
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us-gaap Net Cash Provided By Used In Discontinued Operations
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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Use of Estimates—The preparation of these interim financial statements in conformity with GAAP requires that certain amounts be recorded based on estimates and assumptions made by management. Actual results could differ from these estimates and assumptions. Our accounting policies that utilize significant estimates and assumptions include: (i) estimation for revenue recognition and multiple performance obligation arrangements, (ii) determination of the fair value of assets and liabilities acquired in a business combination, (iii) the evaluation of the recoverability of the carrying value of long-lived assets and goodwill, (iv) assumptions utilized to test recoverability of capitalized implementation costs and customer and subscriber advances, (v) judgments in capitalization of software developed for internal use, (vi) the evaluation of uncertainties surrounding the calculation of our tax assets and liabilities, (vii) estimation of the air booking cancellation reserve, and (viii) the evaluation of the allowance for credit losses.
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28000000 USD
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Restructuring Charges
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us-gaap Income Tax Expense Benefit
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73000000 USD
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us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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10000000 USD
sabr Accounts Receivable Allowance For Credit Loss Other
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us-gaap Provision For Doubtful Accounts
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54000000 USD
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CY2021Q2 us-gaap Finance Lease Liability
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852000 USD
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us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease Before Adjustments And Tax
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0 USD
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1012000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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us-gaap Goodwill Impairment Loss
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CY2021Q2 us-gaap Defined Benefit Plan Benefit Obligation Increase Decrease For Remeasurement Due To Settlement
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21000000 USD
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us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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5428000 USD
CY2020Q2 us-gaap Preferred Stock Dividends Income Statement Impact
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us-gaap Preferred Stock Dividends Income Statement Impact
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10856000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
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CY2021Q2 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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CY2020Q2 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
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us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
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us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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275693000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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318700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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274865000 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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318700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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274865000 shares
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us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2020Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1000000 shares
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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8000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2000000 shares
us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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36456000 USD
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
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CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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125110000 USD
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37892000 USD
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
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CY2020Q4 us-gaap Operating Lease Liability Noncurrent
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97403000 USD
CY2021Q2 us-gaap Operating Lease Liability
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113890000 USD
CY2020Q4 us-gaap Operating Lease Liability
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135295000 USD
sabr Lessee Operating And Financing Lease Termination Period
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14802000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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21620000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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17062000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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15615000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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11051000 USD
CY2021Q2 sabr Lessee Operating Lease Liability To Be Paid Due After Year Four
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
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140820000 USD
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26930000 USD
CY2021Q2 us-gaap Operating Lease Liability
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113890000 USD
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sabr Adjusted Operating Income Loss
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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747152000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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742021000 USD
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CY2021Q2 us-gaap Depreciation And Amortization
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67430000 USD
CY2020Q2 us-gaap Depreciation And Amortization
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93954000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
140653000 USD
us-gaap Depreciation And Amortization
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189815000 USD
CY2021Q2 us-gaap Payments To Acquire Property Plant And Equipment
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10805000 USD
CY2020Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10896000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17240000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
39333000 USD
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-180370000 USD
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-384070000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-382923000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-535481000 USD
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
630000 USD
CY2020Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-499000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-281000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1185000 USD
CY2021Q2 us-gaap Amortization Of Acquisition Costs
AmortizationOfAcquisitionCosts
16136000 USD
CY2020Q2 us-gaap Amortization Of Acquisition Costs
AmortizationOfAcquisitionCosts
16509000 USD
us-gaap Amortization Of Acquisition Costs
AmortizationOfAcquisitionCosts
32357000 USD
us-gaap Amortization Of Acquisition Costs
AmortizationOfAcquisitionCosts
33310000 USD
CY2021Q2 sabr Restructuring And Other Costs
RestructuringAndOtherCosts
-856000 USD
CY2020Q2 sabr Restructuring And Other Costs
RestructuringAndOtherCosts
48001000 USD
sabr Restructuring And Other Costs
RestructuringAndOtherCosts
-5991000 USD
sabr Restructuring And Other Costs
RestructuringAndOtherCosts
73282000 USD
CY2021Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1709000 USD
sabr Legal Fees Reimbursements Net
LegalFeesReimbursementsNet
1856000 USD
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
29478000 USD
CY2020Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
4373000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2429000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
22200000 USD
CY2021Q2 sabr Legal Fees Reimbursements Net
LegalFeesReimbursementsNet
11521000 USD
CY2020Q2 sabr Legal Fees Reimbursements Net
LegalFeesReimbursementsNet
115000 USD
sabr Legal Fees Reimbursements Net
LegalFeesReimbursementsNet
12251000 USD
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8762000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
53904000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
26339000 USD
CY2021Q2 sabr Adjusted Operating Income Loss
AdjustedOperatingIncomeLoss
-121752000 USD
CY2020Q2 sabr Adjusted Operating Income Loss
AdjustedOperatingIncomeLoss
-306809000 USD
sabr Adjusted Operating Income Loss
AdjustedOperatingIncomeLoss
-288254000 USD
sabr Adjusted Operating Income Loss
AdjustedOperatingIncomeLoss
-379679000 USD

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